Banks is a mid-sized suburb in Australian Capital Territory within the Unincorporated ACT local government area (postcode 2906). With a population of 5,100, the suburb has a mix of young professionals and families with a median age of 35. Households earn a median income of $126K per year, with an average household size of 2.8 people. The most common occupations are clerical & administrative, professionals, technicians & trades. The top ancestries reported are Australian, English, Irish.
The median house price in Banks is $797,000, having dropped significantly 9.4% over the past year. Units have a median price of $610,000. The median weekly rent is $424 (Census 2021). This gives a gross rental yield of approximately 2.8%. The median monthly mortgage repayment is $2,000.
Public transport access includes 28 bus stops. The crime rate in the Unincorporated ACT LGA is low at 1,157 incidents per 100,000 population.
From an investment perspective, Banks offers a gross rental yield of 2.8%, rated as low yield. Property prices are near the state median ($797K/$1.0M). The price-to-income ratio of 6.3x is considered moderate. House prices have moved -9.4% year-on-year.
Banks is a mid-sized suburb in Australian Capital Territory within the Unincorporated ACT local government area (postcode 2906). With a population of 5,100, the suburb has a mix of young professionals and families with a median age of 35. Households earn a median income of $126K per year, with an average household size of 2.8 people. The most common occupations are clerical & administrative, professionals, technicians & trades. The top ancestries reported are Australian, English, Irish.
The median house price in Banks is $797,000, having dropped significantly 9.4% over the past year. Units have a median price of $610,000. The median weekly rent is $424 (Census 2021). This gives a gross rental yield of approximately 2.8%. The median monthly mortgage repayment is $2,000.
Public transport access includes 28 bus stops. The crime rate in the Unincorporated ACT LGA is low at 1,157 incidents per 100,000 population.
From an investment perspective, Banks offers a gross rental yield of 2.8%, rated as low yield. Property prices are near the state median ($797K/$1.0M). The price-to-income ratio of 6.3x is considered moderate. House prices have moved -9.4% year-on-year.